Elon Musk sells X for $33 billion to his own AI startup company xAI

Elon Musk says his $33-billion sale of X to an AI company he also owns will make his social media platform an accelerator for "human progress."

Elon Musk announced Friday that he sold social media site X in a $33 billion all-stock deal to his own AI startup company, xAI

The tech billionaire shared the news in a statement posted on X, writing, “xAI and X’s futures are intertwined. Today, we officially take the step to combine the data, models, compute, distribution and talent.”

“This combination will unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach,” Musk, 53, wrote in his announcement.

“The combined company will deliver smarter, more meaningful experiences to billions of people while staying true to our core mission of seeking truth and advancing knowledge,” he added.

Musk said that the merger of X to xAI will “allow us to build a platform that doesn’t just reflect the world but actively accelerates human progress.”

Both X and xAI are privately held, which means they are not required to disclose their finances to the public.

The Tesla and SpaceX CEO said the deal values xAI at $80 billion and X at $33 billion.